WVC 47 - 6 - 11
§47-6-11. Certain business debts exempt from usury laws.
No law limiting interest rates or providing for forfeiture,
penalty, or other loss or liability because of the rate of
interest charged may be applied:

(1) To any debt that is incurred by a loan, installment
sale, or other similar transaction, and is incurred primarily for
a business purpose; or

(2) To any addition to or refinancing in whole or in part of
a debt meeting the requirements of subdivision (1) of this
section, providing such addition or refinancing is also primarily
for a business purpose: Provided, That if the debt described in
subdivision (1) of this section is incurred by a natural person,
the provisions of this section shall not apply unless such debt
is in a principal amount of twenty thousand dollars or more.

For the purpose of determining the applicability of this
section, the term "business" means and includes any activity that
is engaged in primarily for the purpose of generating "gross
income," as that term is defined in section one, article
thirteen, chapter eleven of this code: Provided, That "business"
does not mean or include farming or any other agricultural
activity engaged in by a producer of agricultural commodities,
livestock, or other farm products.

Note: WV Code updated with legislation passed through the 2016 Regular Session
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